Perspectives on telematics — defined as the use of a telecommunications device in a vehicle to collect information about its activity — are shifting rapidly in the insurance industry. Previously, insurance carriers focused on the adoption of telematics for personal auto policyholders. Now, commercial auto insurers are seeing telematics as a prime opportunity to steady their business and protect their bottom line against unstable loss ratios and high severity. The slideshow above illustrates five of the top trends in telematics that commercial carriers should be aware of. Charles Smith is vice president of product at SambaSafety, responsible for global insurance, data and telematics products. SambaSafety and the National Alliance for Insurance Education & Research recently surveyed the industry about perspectives, trends and challenges faced by insurance carriers and brokers in embracing new technology. Follow this link to see the report titled "From Perception to Practice: An Insight into Insurer Data Strategies and Sentiments." See also: |

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Commercial Lines
Auto
Technology Implementation